If 2022 was the year that almost wrote off cryptos, can 2023 be termed as the year of their comeback? Despite a churn of technological innovation, market fluctuations, regulatory changes, and fall of titans (Both Sam Bankman-Fried of FTX, and Changpeng Zhao, CZ of Binance, pleaded guilty of violating money laundering rules), cryptos bounced back. The most popular cryptocurrency Bitcoin saw a whopping 154% surge. From around $17,000 at the start of the year, BTC went up to $44,000. Of this, much of the gains came later in the year. The overall crypto market cap also swelled to $1.62 trillion from $831.8 billion at the beginning of 2023.
Says Parth Chaturvedi, Investments Lead, CoinSwitch, "BTC has recorded a substantial price surge and has been breaking past crucial resistance levels with healthy volume. Various narratives have influenced this price action, with investor sentiment undeniably strengthening." According to Rahul Pagidipati, CEO, ZebPay, this growth can broadly be attributed to increasing interest in the crypto market by both retail and institutional investors. "Global macroeconomic factors have also contributed to this growth with countries coming together to decide the future roadmap of crypto assets through regulatory frameworks," says Pagidipati.
BITCOIN IN 2024
So what does 2024 look like for Bitcoin? Will it soar even higher? There are two main events that can drive the Bitcoin prices up: BTC's fourth halving event, and the US Security Exchange Commission's (SEC) decision for spot BTC ETFs in the US.
THE HALVING EVENT
Bu hikaye Entrepreneur magazine dergisinin January 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Entrepreneur magazine dergisinin January 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Chords of Success
For Saahil Goel, the deep-rooted passion for playing the guitar dates back to his high school days. Influenced by legends like Pink Floyd, Led Zeppelin, and the Pakistani band Strings, his musical journey mirrors his leadership style-balancing focus, discipline, and a collaborative spirit. Goel feels that playing guitar has enhanced his ability to balance focus and teamwork as a founder of an eCommerce shipping start-up.
IS YOUR RENT TOO DAMN HIGH?
Many small business owners struggle with their rents. Here's what to do.
HOW TO BOUNCE BACK FROM A BAD REVIEW
A one-star review can hurt your ego - and your business. But it's possible to prevent (and remedy!) this scary scenario.
HOW TO HIRE FOR THE FUTURE
Small businesses are struggling to find quality labor. So flip the conversation: Show workers how your business will set them up for opportunity.
You Can Hire Like Netflix
The streaming platform built an incredible team with a strategy called “talent density.” But you don’t need to be a tech giant to do it.
Speedy Growth Killed My Startup
We seemed to be rocking it - lots of press, major partnerships. Then we learned the harsh consequences of overlooking our customers.
Three Pivots to $100 Million
How do you find a working business model? Do it like Rowan-a brand that reinvented itself many times before finally piercing the ear-piercing market.
What Goals Actually Matter?
Some benchmarks are more important than others so what should you really care about? We asked six founders for their hardest-won lessons.
'Only the Strongest Are Going to Survive'
Brian Lee cofounded companies like LegalZoom and ShoeDazzle-and he believes a lot of conventional business wisdom is backward. Sure, it's harder to raise capital. But it's actually cheaper than ever to start a company.
HOW TRUST SAVED KFC
The former CEO of Yum! Brands explains how he turned around a struggling KFC-and the important lesson it offers for anyone in franchising.
